The PDMA Handbook of New Product Development

20.2. Technology Planning

Technology planning is a process that results in an actionable plan to leverage new and existing technologies consistent with business strategies and customer needs. It should be a systematic, cross-functional, and iterative process. The published plan will be a summary document highlighting strategic business goals, competitive industry status, internal technology position, technology opportunities, and prioritized strategies and tactical action plans. An example is provided as Table 20.1; however, the appropriate content and view must be identified for each company. It is not a one-time activity created in a vacuum by a few key staff within the technical community. Rather, it should be a collaborative effort with input from a wide variety of cross-functional areas and support from executive management. Participation from Marketing counterparts is critical to the overall alignment of R&D efforts with the marketing business vision. It is a comprehensive and ongoing innovation process, which explores opportunities inside and outside the core business. Technology planning and market business planning occur simultaneously as inputs and outputs of one another and precede the product planning process. To impact the bottom line, both processes must be aligned with the corporate strategic goals. These strategic goals challenge everyone to identify leading-edge, innovative, and competitive products for the future. Thus, a technology-planning process provides ...